The Act Expands the power of the Insurance Commissioner to suspend the certificate of authority of an insurance company. The Act requires that insurers authorized to operate in Georgia file certain documents with the National Association of Insurance Commissioners. Requirements controlling the manner in which insurers may reinsure their risks
The Act revises license regulations for insurance agents, solicitors, brokers, counselors, and adjusters and provides for fiduciary and record keeping duties for life and accident and sickness insurance agents.
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SB 30 prohibits insurers, small loan companies, and their respective political action committees from contributing to the campaign for the Office of the Insurance Commissioner. SB 31 requires the Insurance Commissioner to release to the public each year a list of written requests for assistance by citizens against insurers. HB
The Act amends the Code definition of property insurance, which includes consumer warranty agreements, to allow retailers of electronic consumer products to elect to purchase a $100,000 bond in lieu of a warranty insurance policy.
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The Act amends the Code by granting to publicly owned corporations an insurable interest in their directors, officers, and employees, permitting employers to deduct as business expenses premiums paid for employees' term life insurance.
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The Act provides for the establishment of a program of insurance and self-insurance liability coverage for state authorities to be administered by the Department of Administrative Services. March 5, 1987
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The Act requires insurance companies to continue coverage under group accident and insurance policies for three months after cancellation, and provides conversion rights at the end of the three-month period. The Act also repeals requirements for notice of coverage termination under certain group accident and sickness policies.
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The Act establishes additional reporting requirements for insurance companies. Information detailing data on premiums, income, reserves, and net operational and underwriting gains or losses must be submitted to the Commissioner of Insurance.
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The Act amends O.C.G.A. 33-22-13(c) to provide delivery as an alternative to mailing when a premium finance company is notifying the insurer of an insured's default.
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The Act declares the public policy of the State to be that municipal corporations are immune from liability for legislative or judicial actions. The purchase of liability insurance by the municipal corporation will not waive this immunity except as provided in O.C.G.A. 33-24-51, or unless the insurance
